114 & 112 Denise Dr · Half Moon, NC 28540

$85,000

3 bd · 2.0 ba · 1,170 sqft · Other · 90 Days on market

Built 1972 0.28 ac lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Rent growth +3.6/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a great investment? Check out these 2 lots in Hillcrest 114 Denise Drive and 112 Denise Drive, includes a manufactured single wide home that will stay with the property (as is)

Key facts

• 0.28 acre lot
• Built 1972
• Listed 89 days

Tags

• MANUFACTURED SINGLE WIDE HOME

Property features AI

Finance

• Other: Zoning: R-8M; Lot dimensions approximately 65 x 189 (0.28 acres)
• Financial info: Not specified
• HOA & community: Subdivision: Hillcrest

Exterior

• Parking: On-site parking (gravel/unpaved)
• Security: Not specified
• Utilities: Water available; Paved road access
• Home design: Manufactured home; One level; Residential property
• Construction: Aluminum siding and frame construction; Built as a manufactured home
• Exterior features: Chain link and wood fencing; Metal roof; Has a view

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Not specified
• Flooring: Not specified
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Other heating types; Wall/Window cooling units
• Interior features: Eat-in kitchen; Total of 5 rooms
• Laundry & utility: Not specified

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $632 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.2% vs local median 3.4% in Half Moon — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 59/100 on livability (#552 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D, amenities F.
• Onslow County Schools (other): math 42% / reading 49% proficiency, ranked #84 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Meadow View Elementary (math 30% / reading 33%, grade F, #945 of 1,410 statewide, top 68%, 530 students, 59% FRL); Southwest Middle (math 22% / reading 42%, grade F, #317 of 475 statewide, top 68%, 527 students, 64% FRL); Southwest High (math 52% / reading 47%, grade D, #311 of 535 statewide, top 60%, 702 students, 54% FRL) — zoned schools average 59% FRL vs 37% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.5%/yr); 386 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,246 units permitted in Onslow County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $85k implies a 325% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 98% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.82% ✓
• Cap rate: 15.21%
• Cash-on-cash: 31.85%
• DSCR: 2.42
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.47% rent growth · sell at horizon

5-year hold

• IRR: 28.5%
• Equity multiple: 2.21×
• Total profit: $28,800
• Equity at exit: $12,674

10-year hold

• IRR: 36.8%
• Equity multiple: 4.65×
• Total profit: $86,774
• Equity at exit: $7,349

Cash invested: $23,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 28540

• Home prices YoY: -21.5%
• Rents YoY: 4.5%
• Active inventory: 386
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,543 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $632

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 54%

Sensitivity live

Price	-10% $690	-5% $661	+0% $632	+5% $602	+10% $573
Rent	-10% $510	-5% $571	+0% $632	+5% $693	+10% $754
Rate	-1.0pp $675	-0.5pp $653	base $632	+0.5pp $610	+1.0pp $587

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3751 Richlands Hwy Jacksonville, NC	3.0	1.5	1250	$1,600	$1.28	22d	1	1.21mi

Listing history 20 events

1. 2026-06-21
   days on market $85,000 Active 90 DOM
2. 2026-06-19
   days on market $85,000 Active 88 DOM
3. 2026-06-18
   days on market $85,000 Active 87 DOM
4. 2026-06-17
   days on market $85,000 Active 86 DOM
5. 2026-06-16
   days on market $85,000 Active 85 DOM
6. 2026-06-15
   days on market $85,000 Active 84 DOM
7. 2026-06-14
   days on market $85,000 Active 82 DOM
8. 2026-06-13
   days on market $85,000 Active 81 DOM
9. 2026-06-10
   days on market $85,000 Active 79 DOM
10. 2026-06-09
    days on market $85,000 Active 78 DOM
11. 2026-06-09
    days on market $85,000 Active 77 DOM
12. 2026-06-07
    days on market $85,000 Active 76 DOM
13. 2026-06-03
    days on market $85,000 Active 72 DOM
14. 2026-06-02
    days on market $85,000 Active 71 DOM
15. 2026-06-01
    days on market $85,000 Active 70 DOM
16. 2026-05-31
    days on market $85,000 Active 69 DOM
17. 2026-05-30
    days on market $85,000 Active 68 DOM
18. 2026-03-23
    listed $85,000 Active
19. 2008-03-18
    soldstatus $20,000
20. 2005-10-20
    soldstatus $32,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,519
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,481
• − Management: −$1,481
• − Depreciation: −$2,473
• Taxable income: $6,622
• Est. tax owed @ 24.0%: −$1,589
• After-tax cash flow: $5,991/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Onslow County Schools
• NCES district ID: 3703450
• Math proficiency: 42% ▲ 6.00%
• Reading proficiency: 49% ▲ 5.00%
• Median HH income: $46,076
• Composite: 38.66/100
• National rank: #4148
• State rank: #84 of 178 in NC

Livability — Half Moon

• Score: 59/100
• State rank: #552
• US rank: #20341

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment D Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Onslow County · 164,453 people
• Metro: Jacksonville, NC
• Population (ZIP): 49,141
• Household income: $65,625
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 1304.0

Population outlook (Onslow County) Hauer SSP2

• Today (2025): 189,789 people
• By 2030: 194,463 · +2.5%
• By 2040: 193,629 · +2.0%
• By 2050: 193,248 · +1.8%
• By 2075: 196,995 · +3.8%
• By 2100: 201,513 · +6.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 62% Black 14% Hispanic / Latino 14% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 6%
• Common ancestry: Italian 3% Serbian 2% Romanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 90% English-only · Spanish 7% Chinese 1% Other Asian/Pacific 1%

Political lean MEDSL · Onslow

• 2024 margin: Solid R (+35.9) · D 31.5% · R 67.5% · Other 1.0%
• 2008→2024 swing: -14.5pp toward R · 2008: -21.5pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+30.2 2016: R+34.6 2012: R+27.0 2008: R+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.11%
• Current HPI: 219.5571
• Rent YoY: ▲ 4.47%
• Metro: Jacksonville, NC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

+165.6% since first listed

3 events — show timeline

• 2026-03-23 Listed $85,000 Hive MLS
• 2008-03-18 Sold (Public Records) $20,000 Public Records
• 2005-10-20 Sold (Public Records) $32,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $100 · +0.0% YoY. Source: county tax records.